Tracoin — Using Blockchain and Smart Contracts to Connect the Global Land Transport Industry!
That is a very nice concept. Tracoin wants to be the first open source, peer-to-peer decentralized cryptocurrency specifically tailored for the global land transport industry. That is not going to be easy to achieve.
But who are the developers?
Andrew Portokallis - Co-founder. He is a Telecommunications Professional in Johannesburg, South Africa.
A) Andrew Portokallis is the CEO, Intercel Online Africa; prior to this he has held diverse position in multinational companies such as Programme Manager 2010 FIFA Soccer World Cup MTN SA. Programme Manager, Huawei Network Equipment Swap Programme.
Senior Specialist Business Continuity and Disaster Recovery Planning across 21 MTN Group operations as well as Instrumentation Design Senior Engineer EMS Services – Subsidiary of Murray and Roberts. He has also worked with Fluor Engineers and Mobil Refinery.
B) Nurudeen Momodu Co-founder and COO is a Nigerian entrepreneur, coach, digital marketer, online investment consultant and blockchain enthusiast with keen interest in understanding the functionality of blockchain technology.
He is an ardent lover of the crypto space, with keen interest in developing one of the best project on blockchain technology.
He is a trained Document Management Specialist, QMS Professional, Internal Auditor and HSE with over 15 Years extensive work experience in Oil & Gas and aviation Industry.—
C) Prabu Dass from India is an expert in Ethereum, Blockchain, Tendermint, Raiden Network, hyper ledger and a DAG developer and consultant with a demonstrated history of working with blockchain technologies and services industry.
He is also an IBM Watson expert, skilled in Node.JS, Express.js, and expertise in chatbot development and cognitive computing services.
He is a strong programmer and a project management professional in Full Stack Web and Mobile Applications Development. He is also an AGILE methodologist.
Others include Shikha Dadhwal, Gokul Ram, Karthi SRV.
The Tracoin team aims to develop a platform that will overcome the most pressing challenges facing land transport providers, as well as helping to improve the accessibility, safety and comfort within the sector.
Well, thanks to the technological innovations made possible by blockchain and smart contracts, Tracoin has developed a model that will connect and integrate all land transport industries and enable users to access land transport providers and services via an intuitive, easy to use marketplace app.
The Utility of Tracoin Tokens (TCN)
Bearing in mind that the long term value of any cryptocurrency lies in its utility and usability, Tracoin’s native currency — the Tracoin token (TCN) — plays a central role in how users interact on the platform.
The project’s whitepaper explains:
“Tracoin (TCN) is a utility token intended for use within the Tracoin ecosystem. The token facilitates product usage by incentivizing contributions to the ecosystem, unlocking access to enhanced features and services, and as a means of payment on the platform.”
Within the Tracoin environment, the tokens can be used in many ways, including:
As a means of payment for land transport services.
Unlocking driver profiles, offers from land transport companies, and other features
Commissions paid to users for referrals and client introductions
Rewards for using TCN to pay for services
Transaction-based fees for driver log entries
Furthermore, to encourage provider participation and to broaden its market reach, Tracoin will be offering a “seed” quantity of tokens to driving schools, vehicle operators, and transport companies that sign up on the platform.
To raise the funds necessary to develop and market the platform, Tracoin held a pre-ICO where 3,000,000 tokens where issued at $0.4 per token. Currently Round one ICO stage is ongoing where 3,400,000 tokens will be given out at $0.6 per token.
Each round has a fixed token cap, after which the next round will begin:
A total of 20 million TCN tokens will be available for sale during the pre-ICO and main ICO. Due to the expected high demand for the tokens, and to ensure that anyone who wants to can participate, Tracoin is limiting purchases to a maximum of 4,000 TCN per investor per day.
There is a $50 USD minimum purchase — 125 TCN at pre-ICO prices — and tokens can be purchased using either Ethereum (ETH) or Bitcoin (BTC).
Well the decision is ultimately yours. But Tracoin seems to be on track with its usability and concept. Personally I would invest in Tracoin. Would you?
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